Brothers Chearavanont

Brothers Chearavanont

Agribusiness conglomerate Charoen Pokphand Group, controlled by Thailand's richest clan, announced a long-expected succession in its top ranks in January. After 48 years as chairman and CEO, Dhanin Chearavanont crowned his oldest son, Soopakij, 53, and the youngest, Suphachai, 50, as CP's chairman and CEO respectively. An alum of New York University, Soopakij has worked in key group companies. Suphachai, an undergrad from Boston University, started out at retailing arm Siam Makro and went on to head True,the telecom business, in which the group has invested billions. Though it has not been profitable so far, True has surpassed Dtac to become number 2 and is on track to turn the corner this year. Suphachai recently announced 'CP 4.0,' a plan to transform the group with digital technology, among much else. "I see myself as both a professional and an entrepreneur," he says. The patriarch, 77, is now designated senior chairman, though it is believed he continues to call the shots.

NEWSWORTHY

In 2012, some months before an arm of acquired a stake in building-materials retailer Siam Global House, Witoon Suriyawanakul, founder of Siam Global, bought shares of his company with three relatives. Thailand’s Securities & Exchange Commission charged them with using insider information for illegal gains. In March Witoon, who won’t comment read »

Indian billionaire diamond jeweller Nirav Modi has been accused of orchestrating the biggest banking scam the country has ever witnessed, allegedly having defrauded the state-owned Punjab National Bank (PNB) of close to two billion US dollars. read »

Nascar’s top 12 drivers earned $155 million last year from salaries and endorsements, as well as their share of race winnings and licensing. The total is off 20% from 2009 and will drop again this year with a crop of new drivers. read »

“This Tesla effect is a major trend and has really changed consumers’ perception of things that are battery driven and their capabilities,” says China’s Don Gao, billionaire founder of Positec, a potent rival of global heavyweights in the home improvement and hand tool industry. read »

President Trump’s son in law, Jerad Kushner is under fire for his use of the EB5 investor immigration program. The program has lost some of its luster. Chinese investors in particular have been shying away from it. This article discusses why the program is troubled and other immigration options. read »

It’s the story of a radiologist and an IT guy from one of the most distinguished universities in the country who thought it just might be possible to use virtual reality to tackle tangible problems in medicine, and it could revolutionize the way medicine is practiced and taught. read »

It’s what movies were made of nearly four decades ago. Today, Artificial Intelligence and deep learning could very well change the world through drug discovery and the eradication of disease. And one Baltimore-based company is betting on it. read »

South African President Jacob Zuma, whose tenure was marred by a litany of corruption scandals, resigned as President of Africa’s most advanced economy on Wednesday night during a televised broadcast. read »